The project, currently codenamed "Keychest", will offer cloud-based content that those who have paid to access it, across multiple platforms.

By paying a single price consumers would be granted permanent access to a movie or a TV show that they could chose to watch on-demand via a connected television, on a computer, or on the go on a similarly hooked up portable device, such as a mobile phone.

As well as addressing the modern consumer's need for flexible digital content, and falling DVD sales, the solution would mean that the content would not eat into the memory capacity of smaller portable devices, although consumers would have to be careful with data costs.

The WSJ reports: "The company has been quietly demonstrating Keychest for other movie studios and technology companies in a bid to get them to sign on".

Disney is said to be due to unveil the technology next month - we will keep you posted.